Tuleva Fondid AS

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*In the comparison above, we are comparing ourselves to pension funds which are managed by Swedbank, SEB, Luminor or LHV. In these pension funds your pension is just as protected against risks as in Tuleva pension funds. At the same time the average total expense ratio for those pension funds is 1.22% (source: Ministry of Finance), which is nearly 2.5 times the expense ratio of Tuleva pension funds. In addition, Tuleva World Stocks Pension Fund's total expense ratio is alongside SEB Energetic Pension Fund Index the lowest among pension funds which invest in equities (see Pensioni Centre comparison here).

Before you decide which pension fund you’d like to move your second-pillar units and future contributions to, be sure to read through the important information. The terms of our pension funds can be found here. Before you decide which pension fund you’d like to move your second-pillar units and future contributions to, be sure to read through the important information. The terms of our pension funds can be found here. For comparison, information on all Estonian pension funds is available at the Pension Centre. Please note that Tuleva cooperative, Tuleva management company and Tuleva employees do not dispense investment advice, and cannot do so, because we have not sought an activity licence in the field of investment advice. However, we do our best to provide you with truthful, comprehensible information that you can use to make up your own mind. If you have any questions, don’t hesitate to contact us, or consult impartial experts via the Pension Centre’s information line or the Financial Supervision Authority’s money matters page.

How do we use membership fees?

Membership fees are used to develop the Association and to represent the interests of members. The fees of our first members were used to raise the fund’s initial capital, introduce Tuleva to the general public, and make preparations to start the fund, including application for an activity license from the Financial Inspectorate. From this point forward, membership fees will be used for the following activities:

Membership community management and communication

Development of Tuleva’s web page, blog, and other informational channels

The creation of proposals and influence analysis to improve the Estonian pension system, in cooperation with the Ministry of Finance and other state organizations

Development of Tuleva’s IT systems

Preparation and analysis of voluntary savings products and Third Pillar options

Every euro saved gives a Swede almost a third higher pension than the same amount saved by Estonians. Estonia needs a smarter and measurable pension strategy.

As the first and only association representing pension savers, Tuleva is a credible partner for Ministry of Finance and state legislative bodies. We participate in pension strategy discussions, where next to the officials only banks and insurance companies used to be represented.

We help to make better laws. The laws that protect the people. The laws that maximize our profits from our, not banks’ savings.

We have our first achievements. For example

On Tuleva’s initiative, people in Estonia saved only during last year 1.5 million euros, because the fund managers are no longer allowed to charge high fees for changing the pension fund.

We sent a petition to parliament, signed by 2300 people, that proposes to reform how people can use their II pillar savings.

We do not organise demonstrations or spread random complaints. We are direct, we analyse issues and offer constructive solutions.

Tuleva is a social company with a goal to earn profit for its members.

Tuleva’s main principle is that people themselves save money for their future, using contemporary technologies and bypassing unnecessary middlemen and costs as much as possible.

Every year, each member who has transferred their II pillar to Tuleva pension funds, earns a member bonus. Member bonus is very small at first, but it will grow together with member’s pension assets. Bonus is transferred to your personal capital account at Tuleva. This is your ownership stake in Tuleva capital and this stake can earn you additional profit.

When Tuleva grows, our funds under management grow and we add new products to our offering, then the association will earn profit. The profit is then divided among members, as set in our Articles of Association.

As always with profit from entrepreneurship – this depends how well our venture is doing. The founders are convinced, that the 100-euro joining fee pays for itself many times over. But we do not give promises.

How is member bonus calculated?

At the end of each year

We calculate how many pension fund units each member had on average during the year in euros

Multiply this by 0,05% and transfer the resulting amount to member’s capital account

Every 5 years, members annual meeting decides whether to pay our accumulated profit as a dividend or keep it invested.

Tuleva is for people who care.

Every member has a vote on annual general meeting and has a right to elect and be elected to Tuleva’s board of directors and other supervisory bodies. This is the official part and it is very important.

Every day we share our ideas and experience among Tuleva members in our Facebook group, e-mail, phone and working groups. Among our community, there are people who care about the society and have very different skills. Many are ready to take responsibility for ensuring us a better future.

Tuleva team listens very carefully to our members and uses their ideas for making Tuleva better. We are only starting and believe that the power of thousands of smart people can be used for increasing our common good.